Wealth Management Partners LLC Purchases Shares of 17,337 Alger Concentrated Equity ETF $CNEQ

Wealth Management Partners LLC purchased a new position in Alger Concentrated Equity ETF (NYSEARCA:CNEQ) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 17,337 shares of the company’s stock, valued at approximately $540,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CNEQ. Geneos Wealth Management Inc. bought a new position in shares of Alger Concentrated Equity ETF during the 4th quarter valued at about $39,000. Allworth Financial LP bought a new stake in shares of Alger Concentrated Equity ETF in the fourth quarter worth about $58,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Alger Concentrated Equity ETF by 188.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,875 shares of the company’s stock worth $64,000 after purchasing an additional 1,225 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of Alger Concentrated Equity ETF by 114.5% in the second quarter. Osaic Holdings Inc. now owns 2,445 shares of the company’s stock worth $73,000 after buying an additional 1,305 shares in the last quarter. Finally, Private Trust Co. NA purchased a new stake in shares of Alger Concentrated Equity ETF in the fourth quarter worth about $138,000.

Alger Concentrated Equity ETF Trading Down 2.4%

Shares of Alger Concentrated Equity ETF stock opened at $40.02 on Wednesday. The stock has a 50 day moving average of $38.77 and a 200 day moving average of $35.41. Alger Concentrated Equity ETF has a 12 month low of $28.50 and a 12 month high of $42.15. The firm has a market cap of $554.28 million, a PE ratio of 35.92 and a beta of 1.73.

Alger Concentrated Equity ETF Profile

The Alger Concentrated Equity ETF (CNEQ) is an exchange-traded fund that mostly invests in large cap equity. The fund is actively managed, targeting large-cap companies with high growth potential. The fund maintains a concentrated portfolio of no more than 30 stocks, seeking long-term captial appreciation CNEQ was launched on Apr 4, 2024 and is issued by Alger.